The typical owner-occupied home in Oak Harbor is worth about $461,200, 18% below the Washington median of $564,600 and 39% above the national median of $332,700. Owners pay a median $3,596 a year in property taxes, about 0.78% of their home's value, close to the Washington rate of 0.81%. The median household earns $76,084 a year, so the median home costs 6.1 times the median income (5.8 times for Washington). 47% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Oak Harbor at a glance
| Oak Harbor | Washington | U.S. | |
|---|---|---|---|
| Median home value | $461,200 | $564,600 | $332,700 |
| Median property tax paid per year | $3,596 | $4,556 | $3,119 |
| Property tax as a share of value | 0.78% | 0.81% | 0.94% |
| Median household income | $76,084 | $98,141 | $80,734 |
| Homes lived in by their owners | 47% | 64% | 65% |
| Owner homes with a mortgage | 69% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,211 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 26.6% | 22.2% | 21.0% |
| Median rent | $1,645 | $1,760 | $1,413 |
| Rent as a share of renters' income | 31.2% | 30.0% | 30.6% |
| Median year homes were built | 1990 | 1985 | 1980 |
| Vacant homes | 8.6% | 7.3% | 10.1% |
| Population | 24,362 | 7,816,116 | 334,922,499 |
What refinancing could save in Oak Harbor
Oak Harbor owners with a mortgage pay a median $2,211 a month for their mortgage, taxes, insurance and utilities, about 26.6% of their household income.
Say you owe $277,000, about 60% of the median home value here, on a 30-year loan at 8.11%. Refinancing into a new 30-year loan at this week's average of 7.11% would cut principal and interest from $2,054 to $1,863, saving about $190 a month.
Closing costs often run 2% to 5% of the loan. At 3%, about $8,300, the savings would cover the costs in about 44 months, so refinancing pays off if you keep the home longer than that.
A 15-year loan at 6.45% would raise the payment to $2,405, but you'd pay $237,859 less interest than on the new 30-year loan.
The average 30-year rate is 0.87 percentage points higher than a year ago, when it was 6.24%.
| Current loan at 8.11%, 30 years | $2,054 |
|---|---|
| New 30-year loan at 7.11% | $1,863 |
| New 15-year loan at 6.45% | $2,405 |
| Monthly savings with the new 30-year loan | $190 |
Principal and interest only; taxes and insurance stay the same.
Change the numbers in the calculator
Questions about mortgage refinance in Oak Harbor
What is the median home value in Oak Harbor?
About $461,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oak Harbor?
Homeowners pay a median $3,596 a year, which is about 0.78% of the median home value. Your bill depends on your home's assessed value and local rates.
When does refinancing make sense?
When the monthly savings repay your closing costs before you expect to sell or refinance again. This week's average rates are 7.11% for 30 years and 6.45% for 15 years.
More about Oak Harbor
- Home Buying in Oak Harbor
- Debt Relief in Oak Harbor
- Home Equity Loans in Oak Harbor
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data